USD/CAD: Canada’s new house prices climbed in August


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CAD and closed at 1.2476.

Ibn economic news, Canada’s new house price index climbed 0.1% on a monthly basis in August, falling short of market expectations for a rise of 0.2%. In the prior month, the index had risen 0.4%.

On the other hand, the nation’s Teranet/National Bank house price index dropped 0.8% on a monthly basis in September. In the previous month, the index had registered a rise of 0.6%.

In the Asian session, at GMT0300, the pair is trading at 1.2469, with the USD trading 0.06% lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.2438, and a fall through could take it to the next support level of 1.2406. The pair is expected to find its first resistance at 1.2496, and a rise through could take it to the next resistance level of 1.2522.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

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